• 2020 January 15 08:49

    MABUX: Bunker market this morning, Jan 15

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated downward changes on January 14:

    380 HSFO: USD/MT – 384.68 (-4.14)
    VLSFO: USD/MT – 545.00 (-6.00)
    MGO: USD/MT – 690.45 (-11.29)


    Meantime, world oil indexes increased on Jan.14 amid hope for global growth as the market focused on the signing of a preliminary trade deal between the United States and China.

    Brent for March settlement increased by $0.29 to $64.49 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February rose by $0.15 to $58.23 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.26 to WTI. Gasoil for February delivery increased by $2.50.

    Today morning oil indexes slight down after the American Petroleum Institute (API) reported that U.S. crude stockpiles rose.

    According to API U.S. crude inventories were up by 1.1 million for the week ended Jan. 10. For the forthcoming Energy Information Administration report, which is due later in the day, it is expected a crude inventory decline of 750,000 barrels.

    China’s foreign trade rebounded well above expectations in December. Exports came in 7.6% up on the year, while imports rose by an even more impressive 16.3%. Imports of crude showed the third-highest monthly number ever 45.48 million tons - an average of 10.7 million barrels a day - in December.

    The numbers were arguably inflated by a last-minute dash by independent refiners to fill their import quotas before year-end but they still appeared to point to Chinese industrial activity recovering.

    Moreover, China and the U.S. are scheduled to sign a trade pact on today. The exact details of the deal aren’t known yet, but earlier on Jan.14 the U.S. authorities dropped the designation of China as a currency manipulator. This reverses a move made last summer when relations were at a low point.

    The U.S. Energy Information Administration (EIA) in its Short-Term Energy Outlook raised 2020 forecasts for West Texas Intermediate and Brent crude oil prices and said it expects to see U.S. crude-oil production reach new records in 2020 and 2021. The EIA pegged its 2020 WTI oil forecast at $59.25 a barrel ( up 7.7% from its previous view) and its Brent crude price forecast to $64.83(up 7.1%) for 2020. The agency also expects U.S. crude production of 13.30 million barrels a day this year, and 2021 output seen at 13.71 million barrels a day. For 2020, total world output of crude oil and liquid fuels are forecast at 102.37 million barrels a day, while total consumption is seen at 102.11 million barrels a day.

    However, price gains were capped by receding Middle East tensions, with both Tehran and Washington desisting from any further escalation after this month’s clashes.

    Elsewhere, Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said his country will work for oil market stability at a time of heightened U.S.-Iranian tension and wants to see sustainable prices and demand growth. He said it was too early to talk about whether the OPEC&+ would continue with production curbs set to expire in March.

    The situation in Tehran continued to make headlines as Iranians took to the streets to condemn the Islamic Republic’s leadership after Tehran’s forces accidentally shot down a Ukraine Airlines flight.

    We expect bunker prices to demonstrate slight upward changes: 1-3 USD up for IFO, 1-3 USD up for MGO.




2020 September 23

10:13 BlueWater Reporting: Asia-South America trades sees high demand, equipment shortages
10:00 RF Government approves new NSR navigation rules
09:41 Oil prices decrease amid information about growing US reserves
09:29 Maritime Safety Committee adopts resolution on Recommended action to facilitate ship crew change
09:26 Baltic Dry Index as of September 22
09:12 MABUX: Bunker market this morning, Sept 23
08:48 MPA and SMI launched a joint call for proposals on the electrification of harbourcraft in the port of Singapore

2020 September 22

18:24 FESCO launches new maritime service from ports of China and USA to Chukotka
18:06 Aker Solutions wins electrification work for Lundin Energy Norway
17:49 Onezhsky Shipyard launches yet another self-propelled hopper barge of Project NV-600
17:36 DNV GL – Maritime releases the fourth edition of its Maritime Forecast to 2050
17:15 KNUD E. HANSEN introduces new design of icebreaking expedition cruise vessel
16:56 Vyborg Shipyard lays down processing trawler of KMT02.03 design
16:35 "NextGEN" shipping decarbonization concept mooted for green and efficient navigation
16:19 USC and KOMEA create Russia-Korea shipbuilding and ship equipment cluster
16:05 Hopper Dredger First to Sail 2,000 Hours on 100% Sustainable Marine Biofuel
15:34 Boudewijn Siemons appointed as new Port Authority COO
15:10 The largest LNG-powered container ship joins CMA CGM Group's fleet
14:58 Lead nuclear-powered icebreaker of Project 22220, the Arktika, heads out for Murmansk
14:23 Release of containers at Port of Antwerp will be digitalized
14:17 Gazprombank to loan EUR 522 for construction of floating LNG storage units
13:22 Konecranes to start cooperation negotiations in Germany and Finland in its Industrial Equipment business area
13:00 Ships of RF Navy’s Black Sea Fleet participated in Kavkaz-2020
12:38 Bunker market sees mixed price movements in the Far East ports of Russia (graph)
12:15 Dogger Bank wind farm places record-breaking turbine order boosting local jobs
11:49 BIMCO adopts the industry’s first ship sale and leaseback standard
11:46 Operation of Novosibirsk gateway completed in navigation season of 2020
11:20 Rosmorport prepares tender documentation to continue construction of international marine terminal in Pionersky
10:33 IAA PortNews’ webinar “All Ferries. Caspian Basin” scheduled for 30 September 2020
10:09 Port Houston container volumes down 4% to 248,630 TEUs in August 2020
09:55 New gas tanker form paves the way for revision of ASBATANKVOY
09:31 Oil prices are recovering
09:22 Keppel O&M secures two contracts worth approximately $200 million
09:14 Baltic Dry Index as of September 21
08:38 MABUX: Bunker market this morning, Sept 22

2020 September 21

18:27 CMA CGM announces new PSS, FAK and GRR from Asia to North Europe
18:07 IUMI reports that marine cargo insurance market is “improving amid significant change”
17:43 BIMCO adopts the industry’s first ship sale and leaseback standard
17:21 CMA CGM Group launches “A Humanitarian Ship for Lebanon” campaign to ship emergency humanitarian aid
17:21 USCG prepares for storm, coastal flooding along Texas coast
16:37 Fire on fast rescue craft onboard the M/V Siem Diamond
16:14 LR and the NPL partner on marine autonomy assurance
15:56 FESCO’s container train links Saint-Petersburg and Vladivostok
14:45 Point system developed in Russia for estimation of local content in shipbuilding
14:10 Nakilat transitions LNG Al Rekayyat to in-house management
13:33 Average spot market price for Russian M100 product fell to RUB 12,512 pmt
13:04 Work commences on Phase-2 wharf revetment and land reclamation at Port of Kaohsiung's 7th Container Terminal
12:59 Algeciras, Amsterdam, Lisbon and Puertos del Estado shortlisted for 12th ESPO Award
12:22 Towing of seagoing tugboat Andrey Stepanov along Northern Sea Route completed
12:01 Fincantieri launches the first patrol vessel for Qatar
11:00 BeHydro dual-fuel hydrogen engine awarded Approval in Principle by LR
10:39 Remote audits discussed to avoid further disruption to audit schedule
10:02 Philippine Ports Authority launches COVID-19 contact tracing system for all port users, community
09:41 Oil prices are slightly up
09:23 MABUX: Bunker market this morning, Sep 21
09:08 Baltic Dry Index as of September 18

2020 September 20

16:27 Innovative vacuum cleaner removes plastic from nature reserve in the port of Antwerp
15:33 Master and chief engineer plead guilty in MV Funing case
14:07 World’s largest LNG bunkering vessel arrives in Rotterdam
12:38 Austal Australia delivers 7th GCPB